Andra AP fonden Purchases 110,200 Shares of Equinox Gold Corp. $EQX

Key Points

• Andra AP fonden acquired 110,200 Equinox Gold shares worth approximately $1.07 million in the second quarter. Institutional investors and hedge funds collectively own 38.85% of the company.
• Equinox Gold reported quarterly revenue of $769.8 million, up 60.8% year over year, but earnings of $0.16 per share narrowly missed analyst expectations. The company also raised its quarterly dividend to $0.0225, equivalent to a 0.8% annual yield.
• Analyst sentiment remains positive, with a consensus “Buy” rating and a $14 price target versus the stock’s reported $11.73 price.

Andra AP fonden purchased a new position in shares of Equinox Gold Corp. (NYSEAMERICAN:EQX - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 110,200 shares of the company's stock, valued at approximately $1,071,000.

A number of other large investors have also modified their holdings of EQX. EverSource Wealth Advisors LLC boosted its stake in Equinox Gold by 96.7% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,997 shares of the company's stock valued at $29,000 after purchasing an additional 982 shares during the period. Integrated Advisors Network LLC boosted its position in shares of Equinox Gold by 1.2% during the first quarter. Integrated Advisors Network LLC now owns 93,075 shares of the company's stock worth $1,346,000 after buying an additional 1,075 shares during the period. Rockefeller Capital Management L.P. boosted its position in shares of Equinox Gold by 1.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 107,101 shares of the company's stock worth $1,504,000 after buying an additional 1,251 shares during the period. Purpose Unlimited Inc. acquired a new position in shares of Equinox Gold during the fourth quarter worth approximately $42,000. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA increased its position in Equinox Gold by 8.4% in the 4th quarter. Towarzystwo Funduszy Inwestycyjnych PZU SA now owns 47,200 shares of the company's stock valued at $665,000 after acquiring an additional 3,650 shares during the period. Institutional investors and hedge funds own 38.85% of the company's stock.

Equinox Gold Price Performance

Shares of NYSEAMERICAN:EQX opened at $11.73 on Friday. Equinox Gold Corp. has a 12 month low of $8.48 and a 12 month high of $18.96. The stock has a market cap of $13.69 billion, a price-to-earnings ratio of 11.73 and a beta of 1.32. The stock's 50 day moving average price is $11.49 and its 200 day moving average price is $12.23. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.33 and a quick ratio of 0.77.

Equinox Gold (NYSEAMERICAN:EQX - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). Equinox Gold had a net margin of 26.30% and a return on equity of 10.91%. The firm had revenue of $769.80 million for the quarter, compared to analyst estimates of $775.79 million. During the same quarter last year, the business posted $0.11 earnings per share. The firm's revenue for the quarter was up 60.8% compared to the same quarter last year. Equities research analysts anticipate that Equinox Gold Corp. will post 1.1 earnings per share for the current fiscal year.

Equinox Gold Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 2nd. Shareholders of record on Wednesday, August 19th were given a $0.0225 dividend. This represents a $0.09 annualized dividend and a yield of 0.8%. This is a boost from Equinox Gold's previous quarterly dividend of $0.0150. The ex-dividend date was Wednesday, August 19th. Equinox Gold's dividend payout ratio (DPR) is presently 16.67%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on EQX shares. The Goldman Sachs Group raised Equinox Gold from a "buy" rating to a "buy" rating in a research note on Monday, June 8th. Canadian Imperial Bank of Commerce reissued an "outperform" rating on shares of Equinox Gold in a research note on Thursday, July 16th. Zacks Research lowered Equinox Gold from a "strong-buy" rating to a "hold" rating in a report on Tuesday, July 21st. TD Securities restated a "buy" rating on shares of Equinox Gold in a research note on Thursday, September 17th. Finally, Royal Bank Of Canada upped their price objective on shares of Equinox Gold from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Wednesday, September 16th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.00.

Equinox Gold Profile

Equinox Gold Corp. is a mining company focused on the acquisition, development and operation of gold properties in the Americas. The company produces gold doré and related byproducts from its portfolio of open-pit and underground mining operations, while also advancing development and expansion projects intended to increase production.

Equinox Gold's assets have included operations in the United States, Mexico and Brazil, as well as the Greenstone mine in Ontario, Canada. Its portfolio has included the Mesquite and Castle Mountain properties in California; the Los Filos complex in Guerrero, Mexico; and the Aurizona, Fazenda and Santa Luz mines in Brazil.

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